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On November 1,2024 , a company signed a $104,000,3%, six-month note payable with the amount borrowed plus accrued interest due six months later on May
On November 1,2024 , a company signed a $104,000,3%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1 , 2025. The company recorded accrued interest on December 31, 2024. The payment of the note and interest on May 1,2025 , causes assets to decrease by $105,560 and which of the following? (Do not round your intermediate calculations.) Multiple Choice Liabilities to decrease by $104,000 and stockholders' equity to decrease by $3,120. Liabilities to decrease by $106,080 and stockholders' equity to decrease by $1,040. Liabilities to decrease by $104,520 and stockholders' equity to decrease by $1,040. Liabilities to decrease by $105,560
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